It's done

PCCW announces that it has raised $6.7 billion through the provision of two new loans.

PCCW has announced that it has received firm underwriting offers from banks for its $4.7 billion refinancing loan as well as a $2 billion project finance loan for its Internet Protocol Backbone joint venture with Telstra.

We have worked very closely with the banking community and I believe these commitments demonstrate strong confidence in our newly merged group, its financial strength and our future growth prospects, said Francis Yuen, deputy chairman of PCCW. 

Details of the main $4.7 billion refinancing loan were supposed to be forthcoming this evening Wednesday. However one banker close to the transaction has reported to that one or two of the underwriters have...

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